Qatar Chamber (QC) hosted on Monday a virtual meeting with the Philippines Chamber of Commerce and Industry led by QC First Vice-Chairman HE Mohamed bin Ahmed bin Twar Al Kuwari and President of the Philippine Chamber of Commerce, and Industry George T. Barcelon.
The webinar was also attended by the Ambassador of Qatar to the Republic of the Philippines, HH Ahmed Saad N.A. Al Homidi and Ambassador of the Philippines to Qatar HH Lillibeth V. Pono and a number of company representatives and businessmen from both sides.
The meeting touched on means to enhance cooperation relations between both countries’ business sectors and investment climate and opportunities, in addition to enhancing mutual investments and ways to promote trade between both countries.
Twar said the State of Qatar and the Philippines enjoy strong relations in all fields, especially the economic and commercial relations, which witnessed significant development over the past few years, noting that this is evident through the mutual visits and the number of agreements and MOUs signed between them.
Al Kuwari also said that the two countries’ bilateral trade exchange reached QR 979 million last year, compared with QR 791 million in 2019, registering an increase of 28 per cent.
He emphasized the role of the Qatari and Philippine private sectors in developing relations through establishing partnerships, commercial alliances, and investment ventures between companies from both sides, whether in Qatar or in the Philippines.
QC First Vice-Chairman invited Philippine companies to benefit from the investment incentives offered by Qatar, which owns the advanced infrastructure and leading economic legislation, as well as the investment facilitation that attracted foreign investments in various sectors.
Al Kuwari also called on Qatari investors and companies to explore investment opportunities available in the Philippines and enhance cooperation with Philippine companies by establishing alliances and joint investment, whether in Qatar or the Philippines which is an important investment destination that offers a lot of investment opportunities.
He assured the Qatar Chamber’s support for the enhancement of cooperation between Qatari companies and their Philippine counterparts in all sectors, noting that there is a strong will from Qatari businessmen to get acquainted with the investment opportunities available in the Philippines.
He also pointed to the visit of a Qatari businessmen delegation to the Philippines to explore the investment climate and opportunities available there.
For his part, President of the Philippine Chamber George T. Barcelon said that Qatar is one of the most important destinations for Philippine investors, stressing that there is a strong desire from Philippine businessmen to learn about Qatar’s investment climate and review the establishment of joint ventures with Qatari companies in various sectors such as agriculture, tourism, energy, financial services, and halal.
Barcelon also assured the importance of developing relations between both chambers for the good of the private sector on both sides, calling on to increase the mutual visit between trade delegations of both countries, activating the MOU signed between them and discussing the establishment of a Qatari Philippine joint business council.
Ambassador of Qatar to the Republic of the Philippines, HH Ahmed Saad N.A. Al Homidi affirmed the importance of this meeting in developing cooperation relations and promoting trade and economic relations between both countries.
In turn, Ambassador of the Philippines to Qatar HH Lillibeth V. Pono said that there are numerous economic fields in which the private sectors of both countries can cooperate, especially in light of the attractive investment climate in both countries.